In this article, Jude Ayua briefly highlights and discusses the provisions of the OECD framework on base erosion, profit sharing, and taxation of international businesses in the digital economy, the three reasons why the FIRS rejected it, and the four steps FIRS has taken to ensure that Nigeria’s revenue is not hurt by its decision.
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Corporate Law & Practice
Industry Insight
Regulatory Compliance
Technology Law
September 28, 2022
International Businesses in the Digital Economy: Why Nigeria Adopted its Significant Economic Presence (SEP) Rules over OECD’s Corporate Tax Agreement
Industry Insight
Startup Law
Technology Law
September 24, 2022
What Digital Platforms and Intermediaries Should Know about NITDA’s Code of Practice for Nigeria’s Digital Space
In this article by Gabriel Eze, we consider part by part the provisions of NITDA’s draft Code of Practice for Interactive Service Computer Platforms and Digital Intermediaries (draft Code of Practice). looking at both sides of the coin as well as the edge.
Blockchain Technology
Technology Law
July 2, 2022
The Role of Centralized Crypto Exchanges in Sanitizing the Crypto Market: Lessons For Nigeria
According to the Chainalysis Crypto Crime Report 2022, about $8.6bn worth of cryptocurrency were laundered in 2021, which means a 30% increase from the 2020 report.
As we observed in the introductory paragraphs, KYC, AML/CFT controls are some of the effective ways centralized exchanges are combating fraud and other criminal activities like money laundering, terrorism financing, scams, ransomware, etc. To set up adequate rules and protocols, centralized exchanges often rely on the services of data analytics experts (including legal experts) to ensure that where and when necessary, there is due compliance with the law and relevant rules and regulations in operation within a given jurisdiction as well as international standards and practices.
Blockchain Technology
Startups
Technology Law
June 2, 2022
Crypto Lending: Using Cryptocurrency as Security for Fiat Loans and the Status of Cryptocurrency in Nigeria
Stephen Azubuike Introduction Beyond the mere promise to repay loans, prudent business entities and financial institutions generally rely on security in advancing loans to borrowers. The idea of security is the underlying assurance tied to something of value which flows.. Read more